Wells Fargo to launch real-time P2P payments in US

“Wells Fargo will launch real-time person-to-person (P2P) transactions in the US – for more than 17 million mobile customers.

Beginning 1 August, the service will allow Wells Fargo’s customers to send funds in real-time at “no cost” to any customer of a bank that participates in the real-time service, which operates on Early Warning’s clearXchange network.

This development follows on from earlier this year, when some of the major US banks announced they were planning to tap into the instant payments market via their digital network.”

Full Article from BankingTech.com